How do you teach your children the value of a dollar from an early age? Ballentine Partners chief wealth advisory officer Coventry Edwards Pitt tells WSJ's Tanya Rivero on Lunch Break. Photo: AP

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... I ... the wonder how some money to families maintain that well ... throughout the generations while drying her experience as a wealth manager and ex gets off the book on how to raise the wealthy children ... so they can grow up to become productive adults with a warning lives ... Coventry Edwards It is cheap wealth advisory officer at Valentine Partners ... and author of The reign to help the wealthy and while it could be thinking so much for being the ... cheerleader for the EU so we're talking about the privileged the field here but they face parenting challenges ... the same way everyone else ... in fact Anthony Sees carriages and Ericsson unseated the harder it's hard to believe that sometimes the Over stream of old wealth money makes parenting harder not easier than you think that's very important point though that ... parents which means ... half to keep in mind I'm the first one I think it's also important ... that you want to encourage your children to be productive lives and have ... not ... exactly ... in and this is probably the most important point working is key ... beginning with tourists when they're young kids when making your bed ... to face court jobs she expecting them to get the job at a college ... and when the reasons were to ski is it's the first experience a any young person has in earning their own money ... and that the big car folks think not one that can be bought for them because you want them to become adults who have jobs and earn their own money because that is something that gives you a sense of satisfaction Intel for exactly you know it's history self sustaining career that ... these children feel like they are sending more into what the inherited back and that's a very important ... you also say that it is ... very important to set limits even when sometimes ... there are not in any suspect that a fact and this is really hard for parents aam but it's critical to set limits in early trade pact about ... chore if householders actually status as the kids can ensuring page predefined do better in life later on this month but the high expectations and holding it accountable for that ... it's actually harder to repair and I think then the children and learning to say now that exactly spot to have the resources to the Proms go way ... beyond a stand back and let your kid fear now for themselves and know that you're actually helping them by doing that ... he would be easy to help answer to getting the money to fix it they are actually happening much more sustaining way to let them fix the problems around and sell them ... the question though when it comes to a child to let say has chosen ... artistic The although perhaps an academic field that isn't very lucrative rang at what point do you as a parent saying will you need to live within your means or do you assess the financial and I sell how the whole section but it's that these grey areas and there are many examples and they are protected and teach creative academic people ... the tools for looking and looking for extra on metrics of success so if you're a creative field ... is the child in the draw people to their shows are already getting good reviews ... and setting very clear boundaries are and how much she will support so there's a good example of that and it's that ... you can stain your PC for as long as you want but will cover five years of that right that's tough to get on that as long as the child or the young adult is doing something productive and doing it well and with passion think that's what's important winning teams trend right I know we say also it's very import to communicate your values to your children ... how do you do that cites the first one is materialism is not what life is about ... life without so much more to keep a tight people in character much more printing money ... unfriending is telling stories about the family that shows that there is a time when there was no less money there may be time to make an ... EU is that I'll be all ok in either circumstance ... he's even if there really is ... we expect and hope the you'll be financially self sufficient ... it doesn't mean that we will never keep you family friends that ... we trust that you'll be allowed to support yourself in line for a largely to back me you'll can have a lot of enjoyment from ... communicate your expectation exactly what it is important if you come from a family which means that the money is the Scots try to get the the white elephant in the right right so it doesn't for imports for tambourine how well the kids concession each approval kids can figure this out ... the most successful families are honest ... but also the endure the children with a sense that ... this is ... the money that the parents have either you earned through hard work with a if the family many ... it's not miss his two children need to focus on during their productive years when you're trying to establish who they are their own identity ... and then once the foundation set ... an area putting each much more with the family wealth that it's critical that the that a nation coming thank you so much ... 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